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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 213061, member: 32345"] [b]Date : 19th September 2022. Market Update – September 19 – Big central bank week; Risk of a super-sized hikes![/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/11/risk.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/11/risk-696x364.png[/IMG][/URL] [LIST] [*][B]USDIndex – Remains bid,[/B] holding above 109. The surprisingly hot August CPI report generated a sea-change in policy outlook, while housing starts and existing home sales will be tracked. The housing sector has been a major casualty of the FOMC’s tightening policies. Starts are seen rebounding slightly to a 1.450 mln clip after tumbling -9.6% to 1.446 mln in July. Existing home sales are projected dropping to a 4.685 mln rate following July’s decline to 4.810 mln. A 75 bp boost is a [B]done deal[/B] on Wednesday. [*][B]EUR[/B] – Trades at 0.9976. Recession risks are increasingly palpable in Europe. [*][B]JPY[/B] – down 0.2% at 143.21 – verbal interventions effect in the yen has faded this week.Strong resistance at 145. Japan is on holiday [B]today[/B] & [B]Friday. BoJ is[/B] expected to maintain the accommodative stance & stick with massive stimulus . [*][B]GBP [/B]just under the 1.14 mark. Markets are split on whether the BOE will raise rates by 50 or 75 bps on Thursday and to the government’s fiscal plans as Chancellor Kwarteng is set to unveil a “mini-budget” on September 23. The energy package aside, Kwarteng is expected to unveil cuts to National Insurance payments and the reversal of plans to increase corporation tax from 19% to 25%in April. PM Truss is also preparing a post-Brexit deregulation push and hopes that her measures will boost growth sufficiently to allow the financing of measures in the medium term. [*][B]Stocks in red with ASX[/B] and [B]Nikkei[/B] lost -0.3% and -1.1% respectively, while [B]Hang[/B] [B]Seng[/B] and [B]CSI[/B] [B]300[/B] are down -1.3% and -0.5% at the moment. Reports that the Chinese city of Chengdu reopened after lifting a two-week lockdown and a liquidity injection from the PBOC may have helped to put a floor under mainland China bourses at least. The [B]GER40[/B] future is fractionally lower, US futures underperforming, led by a –0.8% correction in the [B]USA100.[/B] [B]UK markets will remain closed today for the late Queen’s funeral.[/B] [*][B]USOil – [/B]at $83.83 next support at $80. [*][B]Gold[/B] – slipped on Monday, at $1661 pressured by a strong USD. [*][B]BTC – [/B]retests 3-month low at mid $18500 area.[URL='https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-19_09-25-22.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-19_09-25-22.jpg[/IMG][/URL] [/LIST] [B][U]Overnight & Today[/U] –[/B] [B]EU Construction Output & Japanese CPI.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-19_09-39-24.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-19_09-39-24.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]BTCUSD [/B](-4.72%) Sank to 3-month low at 18400 area. MAs aligning lower, MACD histogram & signal line negative & falling, RSI 21, H1 ATR 231.98, Daily ATR 1112.90. [b]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/b] Click [url=https://www.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click [url=https://www.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [b] Andria Pichidi Market Analyst HFMarkets Disclaimer:[/b] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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